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NCREC-Broker-N Exam Questions, Exam NCREC-Broker-N Pass Guide

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North Carolina Real Estate Commission NC Real Estate Broker National Sample Questions (Q49-Q54):

NEW QUESTION # 49
A lease with a simple exchange of rent for occupancy, under which the tenant pays none of the costs of ownership, is known as a(n):

A. gross lease
B. percentage lease
C. net lease
D. graduated lease

Answer: A

Explanation:
In a gross lease, the tenant pays a fixed rent amount, and the landlord is responsible for property taxes, insurance, and maintenance costs. This type of lease is common in residential rentals and contrasts with a net lease, where the tenant pays some or all ownership costs. A graduated lease involves rent increases at intervals, and a percentage lease involves paying rent based on the tenant's gross business income. Therefore, the correct answer is B, gross lease.

NEW QUESTION # 50
A homeowner has been trying to sell their house for some time, but buyers seem to be turned off by the odor from a nearby chicken farm. This is an example of:

A. economic depreciation
B. physical deterioration
C. functional obsolescence
D. external obsolescence

Answer: D

Explanation:
External obsolescence refers to a loss in property value caused by external factors beyond the property owner' s control. These could include undesirable neighboring properties, economic shifts, or environmental conditions. In this case, the unpleasant odor from the nearby chicken farm is an environmental factor reducing buyer interest. Therefore, the correct answer is B.

NEW QUESTION # 51
In North Carolina, which type of buyer agency agreement may be oral or written?

A. Nonexclusive buyer agency agreement that does not bind the buyer for a fixed period of time
B. Exclusive buyer agency agreement that does not bind the buyer for a fixed period of time
C. Nonexclusive buyer agency agreement for a fixed period of time
D. Exclusive buyer agency agreement for a fixed period of time

Answer: A

Explanation:
In North Carolina, a nonexclusive buyer agency agreement that does not include a specific time period can initially be oral. However, before writing or presenting any offers on behalf of the buyer, the agreement must be put into writing and signed. Exclusive buyer agency agreements and any agreement that includes a fixed term must be in writing from the beginning. Therefore, the correct answer is D.
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NEW QUESTION # 52
A North Carolina resident who believes they were refused a lease in a new apartment building because of their sexual orientation can file a complaint with the North Carolina Human Relations Commission, but they must do so within ________ of the alleged discrimination.

A. 6 months
B. 1 year
C. 3 months
D. 2 years

Answer: B

Explanation:
Under both federal and North Carolina law, individuals who believe they have experienced housing discrimination must file a complaint within one year of the alleged act to seek administrative remedies through the North Carolina Human Relations Commission or HUD. Discrimination based on sexual orientation is protected under federal fair housing law via interpretation of "sex" as a protected class.
Therefore, the correct answer is C.
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NEW QUESTION # 53
On a settlement statement, the seller's net proceeds are calculated by:

A. subtracting closing costs from the purchase price.
B. subtracting the seller's debits from the seller's credits.
C. subtracting the seller's debits from the buyer's debits.
D. subtracting the buyer's credits from the seller's credits.

Answer: B

Explanation:
The seller's net proceeds are the total credits due to the seller (such as the sale price) minus all debits (such as mortgage payoff, commissions, taxes, and other closing costs). Therefore, the formula is:
Net Proceeds = Seller's Credits # Seller's Debits.
Correct answer: D.
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NEW QUESTION # 54
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